GM to Fire Salaried Staff Through April, People Say

[shugah]

GM to Fire Salaried Staff Through April, People Say

March 24 (Bloomberg) -- General Motors Corp., reeling from $10.6 billion in losses last year, will fire hundreds of its U.S. salaried employees starting next week, according to people familiar with the plan.

The firings, which begin March 28 at several locations on what employees are calling ``Black Tuesday,'' will be followed by another round in April, according to the people, who declined to be identified because the plan hasn't been made public. GM spokesman Steve Harris had no comment.

The workers will get GM's salaried severance package with no additional payments, the people said, unlike the buyouts of up to $140,000 and retirement incentives offered this week to 113,000 hourly workers in the U.S. Chief Executive Officer Rick Wagoner plans to reduce losses by slashing costs and jobs and selling assets while bolstering revenue by redesigning vehicles.

``They're liquidating, they're firing, they're retiring,'' said Sean McAlinden, a labor analyst at the Center for Automotive Research in Ann Arbor, Michigan. ``This is a GM that's getting in shape much faster than it's ever before in any past restructuring.''

Wagoner said in November that the Detroit-based automaker planned to reduce its salaried and contract workforce this year by about 7 percent. He didn't say how many workers would be affected. GM has 36,000 salaried U.S. workers and doesn't disclose how many contract employees it has, spokesman Robert Herta said.

http://www.bloomberg.com/apps/news?pid=10000087&sid=aURDF_czVAvY&refer=top_world_news

[Botany]

1. ???????

``This is a GM that's getting in shape much faster than it's ever before in any past restructuring.''

No this is GM going down the tubes.

[HereSince1628]

2. I hear a gigantic sucking sound...America is being flushed down

the toilet.

[Orsino]

3. "Lay off," not "fire."

They're paying severance.

[Demeter]

4. Finally, What's Been Done to the Nation Is Being Done to General Motors

Puts a new spin on an old bromide.

[AndyA]

5. Wasn't Bush just telling us how great the economy is?

Where? I'd like to know. I'd like to see where the American economy is doing so well.

Who's hiring right now?

And I mean quality jobs, not part time, no benefit crap.

Who's expanding?

Which companies are growing the AMERICAN economy?

Anyone know? I'd sure like to know. Where is all this good news coming from?

[area51]

7. What AndyA said. (n/t)

[cantstandbush]

6. Bushbots are winning the war against the middle class but not Iraq. n/t